1. Technical Field
The present disclosure relates to an online data processing service, and, in particular, to a system and method for providing an online management service for life insurance documents.
2. Description of Related Art
Managing personal documents can be a difficult task for anyone. Life insurance policies, for example, often include extensive documentation including summaries of coverage conditions and amounts, information related to designated beneficiaries, as well as insurer contact information. Often, policy documents are kept in a box, dresser drawer, file cabinet, or some other unsecured location. Additionally, many policy holders are unaware of what coverage they have due to the high amount of insurance products offered in the market place or due to circumstances beyond their control (e.g., life insurance policies may be bought when the policy holder was a child, insurance companies change ownership, policy numbers change, contact names and phone numbers change, etc.). Also, life insurance coverage may come from unexpected sources such as, for example, banks and/or credit card companies that offer free life insurance coverage but never provide the insured with actual policy documentation.
Many policy holders prefer that, upon their death, designated beneficiaries and/or surviving family not be burdened with having to sort through policy documentation to discover how to collect a benefit. Thus, organizing and safekeeping of such documents is important not only for the policy holder, but for the family and beneficiaries surviving the policy holder.